"As we focus our efforts on where we can have the greatest impact on our growth and return on investment strategies, it has become increasingly clear that in Germany's business environment it would be difficult for us to obtain the scale and results we desire," said Vice Chairman Michael Duke. "This sale positions us to increase our focus on the markets where we can achieve our objectives."
Despite its size, the company is focused on growth, profits, and ROI. It’s recently established commercial real estate arm develops and manages its own location now, and there is word that the company is about to get into retail banking as well as other ventures.
The point is in the form of a warning. In Maryland, a federal judge threw out the anti-Wal-Mart law passed earlier by a misguided, partisan legislature. That judge’s action was lost completely on the Chicago city council which recently passed a similarly silly ordinance mandating what the retailer should pay it’s employees and what benefits it should make available to them.
If Wal-Mart is willing to take $1 billion pre-tax loss on the sale of its entire German operation, is there any doubt that it would abandon the state of Maryland or the city of Chicago in favor of more friendly market conditions?